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Tekcapital flags distribution deal for portfolio company Salarius

Salarius is the developer and manufacturer of a proprietary low sodium salt called MicroSalt

Tekcapital PLC -

Tekcapital PLC (LON:TEK) shares rose on Monday as the UK intellectual property investment group said its portfolio company Salarius has signed a distribution agreement for its Saltme! snack brand.

The agreement covers North America and is with one of North America's largest natural food wholesalers.

Tekcapital said the agreement represents an important milestone for Salarius's new potato crisp snack line, enabling “unprecedented reach” of SaltMe! products into consumer outlets of every size in North America.

Purchase orders and shipping of the product are expected to commence in the second quarter of this year to multiple distribution centres for all four flavour crisps being launched by the company.

"We are very glad to see that Salarius has signed an agreement with one of the largest natural food distributors for its SaltMe! potato crisps. This is a terrific milestone for the company and underscores our core belief that when you combine vibrant intellectual property with star-power management, exciting things can happen," said TekCapital's executive chairman, Clifford Gross.

Tekcapital has a 91.7% stake in Salarius.

In early afternoon trading, shares in TekCapital were 12.5% higher at 4.50p.

 -- Adds share price -- 


 

Quick facts: Tekcapital PLC

Price: 10.25 GBX

LSE:TEK
Market: LSE
Market Cap: £9 m
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